Common use of Borrower’s Failure to Notify Clause in Contracts

Borrower’s Failure to Notify. Any outstanding Borrowing of Base Rate Loans shall, subject to Section 6.2 hereof, automatically be continued for an additional Interest Period on the last day of its then current Interest Period unless Borrower has notified the Administrative Agent within the period required by Section 2.5(a) that it intends to convert such Borrowing into a Borrowing of Eurodollar Loans or notifies the Administrative Agent within the period required by Section 2.8(a) that it intends to prepay such Borrowing. If Borrower fails to give notice pursuant to Section 2.5(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 2.5(a) and has not notified the Administrative Agent within the period required by Section 2.8(a) that it intends to prepay such Borrowing, such Borrowing shall automatically be converted into a Borrowing of Base Rate Loans, subject to Section 6.2 hereof. The Administrative Agent shall promptly notify the Banks of Borrower’s failure to so give a notice under Section 2.5(a).

Appears in 3 contracts

Samples: Credit Agreement (Black Hills Corp /Sd/), Credit Agreement (Black Hills Corp /Sd/), Day Credit Agreement (Black Hills Corp /Sd/)

AutoNDA by SimpleDocs

Borrower’s Failure to Notify. Any outstanding Borrowing of Base Rate Loans shall, subject to Section 6.2 hereof, automatically be continued for an additional Interest Period on the last day of its then current Interest Period as a Base Rate Loan unless the Borrower has notified the Administrative Agent Lender within the period required by Section 2.5(a) that it intends to convert such Borrowing into a Borrowing of Eurodollar LIBOR Loans or notifies the Administrative Agent Lender within the period required by Section 2.8(a) that it intends to prepay such Borrowing. If the Borrower fails to give notice pursuant to Section 2.5(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar LIBOR Loans before the last day of its then current Interest Period within the period required by Section 2.5(a) and has not notified the Administrative Agent Lender within the period required by Section 2.8(a) that it intends to prepay such Borrowing, such Borrowing shall automatically be converted into a Borrowing of Base Rate Loans, subject to Section 6.2 hereof. The Administrative Agent shall promptly notify the Banks of Borrower’s failure to so give a notice under Section 2.5(a).

Appears in 3 contracts

Samples: Seasonal Credit Agreement (Peoples Energy Corp), Seasonal Credit Agreement (Peoples Energy Corp), Seasonal Credit Agreement (Peoples Energy Corp)

Borrower’s Failure to Notify. Any outstanding Borrowing of Base Rate Loans shall, subject to Section 6.2 hereof, automatically be continued for an additional Interest Period on the last day of its then current Interest Period unless the Borrower has notified the Administrative Agent within the period required by Section 2.5(a) that it intends to convert such Borrowing into a Borrowing of Eurodollar Eurocurrency Loans or notifies the Administrative Agent within the period required by Section 2.8(a) that it intends to prepay such Borrowing. If the Borrower fails to give notice pursuant to Section 2.5(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Eurocurrency Loans before the last day of its then current Interest Period within the period required by Section 2.5(a) and has not notified the Administrative Agent within the period required by Section 2.8(a) that it intends to prepay such Borrowing, such Borrowing shall automatically be converted into a Borrowing of Base Rate Loans, subject to Section 6.2 hereof. The Administrative Agent shall promptly notify the Banks of Borrower’s failure to so give a notice under Section 2.5(a).

Appears in 3 contracts

Samples: Credit Agreement (NRG Energy Inc), Credit Agreement (NRG Energy Inc), Credit Agreement (NRG Energy Inc)

Borrower’s Failure to Notify. Any outstanding Borrowing of Base Rate Loans shall, subject to Section 6.2 hereof, automatically be continued for an additional Interest Period on the last day of its then current Interest Period unless the Borrower has notified the Administrative Agent within the period required by Section 2.5(a) that it intends to convert such Borrowing into a Borrowing of Eurodollar Eurocurrency Loans or notifies the Administrative Agent within the period required by Section 2.8(a) that it intends to prepay such Borrowing. If the Borrower fails to give notice pursuant to Section 2.5(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Eurocurrency Loans before the last day of its then current Interest Period within the period required by Section 2.5(a) and has not notified the Administrative Agent within the period required by Section 2.8(a) that it intends to prepay such Borrowing, such Borrowing shall automatically be converted into a Borrowing of Base Rate Loans, subject to Section 6.2 hereof. The Administrative Agent shall promptly notify the Banks of Borrower’s failure to so give a notice under Section 2.5(a).

Appears in 1 contract

Samples: Credit Agreement (NRG Energy Inc)

Borrower’s Failure to Notify. Any outstanding Borrowing of Base Rate Loans shall, subject to Section 6.2 hereof, automatically be continued for an additional Interest Period on the last day of its then current Interest Period unless the Borrower has notified the Administrative Agent within the period required by Section 2.5(a) that it intends to convert such Borrowing into a Borrowing of Eurodollar LIBOR Loans or notifies the Administrative Agent within the period required by Section 2.8(a) that it intends to prepay such Borrowing. If the Borrower fails to give notice pursuant to Section 2.5(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar LIBOR Loans before the last day of its then current Interest Period within the period required by Section 2.5(a) and has not notified the Administrative Agent within the period required by Section 2.8(a) that it intends to prepay such Borrowing, such Borrowing shall automatically be converted into a Borrowing of Base Rate Loans, subject to Section 6.2 hereof. The Administrative Agent shall promptly notify the Banks of Borrower’s failure to so give a notice under Section 2.5(a).6.2

Appears in 1 contract

Samples: Credit Agreement (Peoples Energy Corp)

AutoNDA by SimpleDocs

Borrower’s Failure to Notify. Any outstanding Borrowing of Base Domestic Rate Loans shall, subject to Section 6.2 8.2 hereof, automatically be continued for an additional Interest Period on the last day of its then current Interest Period unless the Borrower has notified the Administrative Agent within the period required by Section 2.5(a1.5(a) that it intends to convert such Borrowing into a Borrowing of Eurodollar Eurocurrency Loans or notifies the Administrative Agent within the period required by Section 2.8(a3.5(a) that it intends to prepay such Borrowing. If the Borrower fails to give notice pursuant to Section 2.5(a1.5(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Eurocurrency Loans before the last day of its then current Interest Period within the period required by Section 2.5(a1.5(a) and has not notified the Administrative Agent within the period required by Section 2.8(a) 3.5 that it intends to prepay such Borrowing, such Borrowing shall automatically be converted into a Borrowing of Base Domestic Rate Loans, subject to Section 6.2 8.2 hereof. The Administrative Agent shall promptly notify the Banks of Borrower’s failure to so give a notice under Section 2.5(a).

Appears in 1 contract

Samples: Credit Agreement (Gallagher Arthur J & Co)

Borrower’s Failure to Notify. Any outstanding Borrowing of Base Rate Loans shall, subject to Section 6.2 hereof, automatically be continued for an additional Interest Period on the last day of its then current Interest Period unless the Borrower has notified the Administrative Agent within the period required by Section 2.5(a) that it intends to convert such Borrowing into a Borrowing of Eurodollar Eurocurrency Loans or notifies the Administrative Agent within the period required by Section 2.8(a) that it intends to prepay such Borrowing. If the Borrower fails to give notice pursuant to Section 2.5(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Eurocurrency Loans before the last day of its then current Interest Period within the period required by Section 2.5(a) and has not notified the Administrative Agent within the period required by Section 2.8(a) that it 18 intends to prepay such Borrowing, such Borrowing shall automatically be converted into a Borrowing of Base Rate Loans, subject to Section 6.2 hereof. The Administrative Agent shall promptly notify the Banks of Borrower’s failure to so give a notice under Section 2.5(a).

Appears in 1 contract

Samples: Credit Agreement (NRG Energy Inc)

Borrower’s Failure to Notify. Any outstanding Borrowing of Base Domestic Rate Loans shall, subject to Section 6.2 hereof, automatically be continued for an additional Interest Period on the last day of its then current Interest Period unless the Borrower has notified the Administrative Agent within the period required by Section 2.5(a1.4(a) that it intends to convert such Borrowing into a Borrowing of Eurodollar Eurocurrency Loans or notifies the Administrative Agent within the period required by Section 2.8(a1.7(a) that it intends to prepay such Borrowing. If the Borrower fails to give notice pursuant to Section 2.5(a1.4(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Eurocurrency Loans before the last day of its then current Interest Period within the period required by Section 2.5(a1.4(a) and has not notified the Administrative Agent within the period required by Section 2.8(a1.7(a) that it intends to prepay such Borrowing, such Borrowing shall automatically be converted into a Borrowing of Base Domestic Rate Loans, subject to Section 6.2 hereof. The Administrative Agent shall promptly notify the Banks of Borrower’s failure to so give a notice under Section 2.5(a).

Appears in 1 contract

Samples: Credit Agreement (Jones Lang Lasalle Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.